He said he was being humiliated, especially when investigated under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla) instead of being subjected to civil action.
In a personal message to his friends on Tuesday he said he does not have any personal tax liability, but in fact has a surplus tax credit with the IRB.
He added that he had decided in January to appoint accountancy firm PKF to liquidate or divest all his personal assets and companies after the “disappointing action” IRB took.
“I believe that paying taxes is a civic duty and I don’t mind paying tax, even if it’s not my own,” said the executive chairman and major shareholder of Country Heights Holdings Bhd (CHHB).
“I believe I have demonstrated this through helping the public company settle RM20 million in taxes since I took over as executive chairman of CHHB.”
It is believed that the money, which Lee had placed as a fixed deposit in a foreign-owned bank, had been seized in connection with RM22.5 million worth of tax liabilities incurred by CHHB’s wholly-owned unit, Country Heights Sdn Bhd (CHSB), for the years of assessment 1997 and 1998.
According to a report in The Star, CHHB had informed Bursa Malaysia that it had received notification of the seizure of money from Lee in a letter dated May 8.
Lee said matters got “very very complicated” during the many settlement meetings with IRB, especially after his deposit was seized.
He said he had pledged the money to an international bank which has a first legal charge on it.
“The use of Amla investigation and Section 144 is a humiliation to me,” he added, describing it as “a bit too much”.
He said the liquidation and divestment is to settle all his companies’ income tax with IRB “in a peaceful and most efficient manner”.
Lee added that he has also appointed law firm Lee Hishammuddin Allen & Gledhill to represent him in dealing with the tax matter.
“My instructions are tax must be paid and the Amla rope around my neck must be taken off asap (as soon as possible).
“As a businessman, this is what I must do, and I believe many other businessmen will do the same.
“I can no longer accept further humiliation from IRB, and their unnecessary bullying tactics which I want to avoid,” he said, adding that he wanted to protect his constitutional and civil rights, and also of others.
Stressing that no one is above the law, he said the rights of citizens, such as freedom to speak and the freedom to travel and personal wealth, must be protected.
“I love Malaysia, I will never betray my country, and I will never shame my country, like I will never do anything to shame my mother!”
Income tax authorities seize RM126 million from Country Heights boss